REG - Central Asia Metals - Disposal of Copper Bay

Central Asia MetalsAnnouncement

09/04/2025 07:00

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RNS Number : 2073E  Central Asia Metals PLC  09 April 2025

9 April 2025

Central Asia Metals plc

(the 'Group', the 'Company' or 'CAML')

Disposal of Copper Bay

Central Asia Metals plc (AIM: CAML) announces the completion of the sale of
its 76.1% shareholding in Copper Bay Ltd ('CBL') to Guardian Metals PLC
('GMP'). CBL, via its subsidiaries, holds the mineral rights to a copper
tailings project in Chile.

GMP's acquisition of CAML's 76.1% shareholding has triggered compulsory 'drag'
rights over the remaining 23.9% held by minority shareholders, and that
interest has also been acquired by GMP.

The consideration for CAML's 76.1% interest will be its pro rata share of the
overall consideration for 100% of CBL, which comprises a total of $7.5 million
in cash payable in two equal deferred instalments. The first instalment of
$3.75 million will become payable on the production of 7,500 tonnes of copper
(either in cathode or concentrate form) by the CBL assets, and the balance of
$3.75 million will become payable when that production reaches 15,000 tonnes.

CAML was advised on the disposal of CBL by Argent Partners.

Gavin Ferrar, Chief Executive Officer, commented:

"We are delighted to have concluded this sale with Guardian Metals, which we
believe offers the Copper Bay project a path to future development for the
benefit of all stakeholders. We previously wrote down the carrying value of
CBL to zero, and this transaction thus offers the potential to realise
additional value for CAML shareholders in the future."

For further information contact:

 Central Asia Metals                             Tel: +44 (0) 20 7898 9001
 Gavin Ferrar
 CEO
 Louise Wrathall
 CFO
 Richard Morgan                                  richard.morgan@centralasiametals.com
 Investor Relations Manager

 Peel Hunt (Nominated Adviser and Joint Broker)  Tel: +44 (0) 20 7418 8900
 Ross Allister
 David McKeown

 Emily Bhasin

 BMO Capital Markets (Joint Broker)              Tel: +44 (0) 20 7236 1010
 Thomas Rider
 Pascal Lussier Duquette

 BlytheRay (PR Advisers)                         Tel: +44 (0) 20 7138 3204
 Tim Blythe
 Megan Ray

Note to editors:

Central Asia Metals, an AIM-quoted UK company based in London, owns 100% of
the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa
zinc-lead mine in North Macedonia. The Company also owns an 80% interest in
CAML Exploration, a subsidiary formed to progress early-stage exploration
opportunities in Kazakhstan, and a 28.4% interest in Aberdeen Minerals Ltd, a
privately-owned UK company focused on the exploration and development of base
metals opportunities in northeast Scotland.

For further information, please visit www.centralasiametals.com and follow
CAML on X at @CamlMetals and on LinkedIn at Central Asia Metals Plc

 

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